Shenzhen Ruihe Construction Decoration Stock Forecast
Red day on Tuesday for Shenzhen Ruihe Construction Decoration stock after losing 1.27%
(Updated on Apr 30, 2024)
The Shenzhen Ruihe Construction Decoration stock price fell by -1.27% on the last day (Tuesday, 30th Apr 2024) from ¥3.15 to ¥3.11. During the last trading day the stock fluctuated 10.00% from a day low at ¥3.00 to a day high of ¥3.30. The price has risen in 5 of the last 10 days and is up by 8.74% over the past 2 weeks. Volume has increased on the last day by 3 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 15 million shares were bought and sold for approximately ¥45.93 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.75% during the next 3 months and, with a 90% probability hold a price between ¥2.48 and ¥3.82 at the end of this 3-month period.
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002620.SZ Signals & Forecast
There are mixed signals in the stock today. The Shenzhen Ruihe Construction Decoration stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥3.55. On a fall, the stock will find some support from the short-term average at ¥3.02. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 11.47%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Shenzhen Ruihe Construction Decoration stock
Shenzhen Ruihe Construction Decoration finds support from accumulated volume at ¥3.01 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ¥0.300 between high and low, or 10.00%. For the last week, the stock has had daily average volatility of 7.10%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002620.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Shenzhen Ruihe Construction Decoration to open at ¥3.14, and during the day (based on 14 day Average True Range), to move between ¥2.77 and ¥3.45, which gives a possible trading interval of +/-¥0.343 (+/-11.02%) up or down from last closing price. If Shenzhen Ruihe Construction Decoration takes out the full calculated possible swing range there will be an estimated 22.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥3.01 (3.22%) than the resistance at ¥3.60 (15.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shenzhen Ruihe Construction Decoration stock A Buy?
Shenzhen Ruihe Construction Decoration holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -4.359 Sell Candidate Unchanged
Predicted Opening Price for Shenzhen Ruihe Construction Decoration of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
¥3.14 ( 0.86%) | ¥3.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002620.SZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.44 | 10.50 % | |
R2 | 3.32 | 6.82 % | ||
R1 | 3.25 | 4.54 % | ||
Current price: | 3.11 | |||
Support | S1 | 3.02 | -2.83 % | |
S2 | 2.95 | -5.10 % | ||
S3 | 2.84 | -8.79 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.88 | 24.76 % | |
R2 | 3.63 | 16.72 % | ||
R1 | 3.60 | 15.76 % | ||
Current price | 3.11 | |||
Support | S1 | 3.01 | -3.22% | |
S2 | 2.92 | -6.11% | ||
S3 | 2.75 | -11.58% |
002620 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 14, 2021 | Jul 14, 2021 | Jul 14, 2021 | ¥0.0800 | 0.92% |
2 | Jul 10, 2020 | Jul 10, 2020 | Jul 10, 2020 | ¥0.0600 | 1.01% |
3 | Jul 10, 2019 | Jul 10, 2019 | Jul 10, 2019 | ¥0.0600 | 1.03% |
4 | Jul 13, 2018 | Jul 13, 2018 | Jul 13, 2018 | ¥0.150 | 2.20% |
5 | Jul 10, 2017 | Jul 10, 2017 | Jul 10, 2017 | ¥0.100 | 0.707% |
FAQ
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